US Plains HRW Wheat-Basis bids steady as harvest begins slowly
CHICAGO, June 12 (Reuters) - Spot basis bids for hard red winter wheat remained flat in the southern U.S. Plains on Thursday with the harvest off to a slow start, according to dealers.
Dealers said high humidity and overcast skies were delaying dry down in the region.
Protein premiums for railcar wheat shipped to and through Kansas City were unchanged for wheat with all protein grades.
Chicago Board of Trade July K.C. HRW wheat KWN25 futures settled 3-1/4 cents lower at $5.22-3/4 per bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -25 | + | N | -25 | + | N | $4.98 |
Newton | -50 | + | N | -50 | + | N | $4.73 |
Goodland | -82 | + | N | -82 | + | N | $4.41 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +100 | + | N | +100 | + | N | $6.23 |
Galveston** | +100 | + | N | +100 | + | N | $6.23 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -25 | + | N | -25 | + | N | $4.93 |
Catoosa | +10 | + | N | +10 | + | N | $5.33 |
NOTES:
H = March, K = May, N = July, U = September
Z = December; UNQ = Unquoted bids
0 = Sp Option price; NC = No comparison
* = No. 1 12% hard winter wheat, rail bids
** = Ordinary protein, rail bids
LINKS:
* K.C. HRW wheat protein scales KCBT/SCA
* U.S. weekly wheat crop progress US/WHE
* U.S. forward basis WHEAT/BASIS
* U.S. Midwest cash grain PM GRA/PM
* U.S. FOB Gulf Grain GRA/F
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